In Q2 2016, Latvia experienced the second slowest GDP growth in the European Union, according to data compiled for 21 member states by Eurostat.

According to seasonally adjusted data, Latvia’s and Italy’s GDP grew by 0.7% in Q2 in comparison with the same period of 2015. This is the second lowest GDP growth rate among EU member states for which statistical data is available. GDP growth in Estonia, on the other hand, was 0.5%.

Lithuania’s GDP growth in the aforementioned period was 2.0%.

The most rapid economic growth in Q2 2016 in comparison with the April-June period of 2015 was registered in Romania (+5.9%), followed by Slovakia (+3.7%), Spain (+3.2%), Sweden (+3.1%), Poland and Bulgaria (+3.0% in each).

GDP grew in 20 EU member states in April-June period. Greece, however, experienced a decline (-0.7%).

Europe’s largest economy – Germany – experienced GDP growth of 1.7% in Q2. Compared with the first three months of 2016, the country’s economy grew 0.4%.

All economies of the European Union grew 1.8% in Q2 2016. Eurozone’s general GDP growth was 1.6%. In April-June, Latvia’s GDP grew 0.4%. Estonia – similar to Greece, Finland and Sweden – experienced GDP growth of 0.3%. Lithuania’s GDP growth was 0.1% in April-June.

In total, 18 EU member states for whom data is available had experienced economic growth in Q2 2016. Economic growth of Austria, France and Italy remained on the level of last year’s January-March period.

The largest GDP growth was registered in Romania (+1.5%), followed by Hungary (+1.1%), Poland and Slovakia (+0.9% each).

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